Global Interferon Market Overview
The key driver impacting the interferon market is the rising prevalence of chronic diseases such as hepatitis-C, hepatitis-B, cancer, and multiple sclerosis. According to the National Center for Biotechnology Information (NCBI ), one in three adults suffers from multiple chronic conditions (MCCs). According to the World Health Organisation report, chronic disease accounts for 60% of the global disease burden by 2020. Cancer is the second most cause of death and accounts for 9.6 million deaths globally in 2018. According to the MS Trust, around 2,500,000 people have multiple sclerosis(MS) across the globe. Moreover, in the U.K. alone, the number of adults with MS has risen to 131,720. People with MS in the UK is increasing by 2.4% per year due to people with MS are living longer.
According to Value Market Research, the global medical thawing system market was valued at around USD xxx million in 2019 and is estimated to grow at a CAGR of about 2.15% during the forecast period of 2020-2026.
Moreover, an increase in R&D investments and technological advancements is also estimated to be an important determinant that adds growth to the market. The global demand for interferon is estimated to boom due to the growing use of interferon and antiretroviral and anti-malarial drugs in treating Covid-19 patients. The pandemic outbreak of the coronavirus positively impacted the interferon market. Ongoing trials have been initiated on various drug candidates, including interferon as potential therapeutic options for covid-19 treatment. The drug regulators, such as the Health Research Authority (HRA) and Medicines and Healthcare products Regulatory Agency (MHRA) have approved the initiation of trials assessing interferons.
Global Interferon Market Share by Region (Representative Graph)
However, the patent expiration of interferon drugs acts as may hamper the global medical thawing system industry in the long run. The current industry trend, such as a rise in funding, and technological advancements, and increasing product launches, is expected to provide beneficial market opportunities for the key players in the forecast years.
The global interferon market is vast, with a large number of international and local players. The key leaders follow various strategies to strengthen their market position, such as rising product portfolio, mergers, expansions, acquisitions, and product innovations to enlarge their market share at the global level. The report studies major key players of the global interferon market in detail, covering the company profile, product list, and financial information. The companies included in the report are Roche, Biosidus, PROBIOMED, Amega Biotech, RheinMinapharm Biogenetics, 3Sbio, ZydusCadila, Nanogen.
In this market research report, the market is segmented by type, disease treatment, and region.
Analysis By Type
By type segment, the report is categorized into alpha, beta, and Gama. The various types of interferon (IFN) have been used to treat these diseases, and critical development in treating some of these diseases recognized that the clinical effects of IFN drugs could be significantly enhanced by combining them with other drugs. For instance, IFN-a (interferon-alpha) combined with polyethylene glycol and ribavirin molecule has shown important improvements in virological response and with no harmful side effects. Studies revealed that nanoencapsulation of IFN-a within nanoparticles would enhance the oral bioavailability of this drug. Thus, the usage of interferons in combinational therapies and the emergence of novel drug delivery systems are anticipated to surge the market for interferon.
Analysis By Disease Treatment
By disease treatment segment, the global interferon market is divided into hepatitis, multiple sclerosis, others. Hepatitis dominated the market with the largest share in 2019. Hepatitis B and hepatitis C segment is a significant revenue generator and is estimated to remain dominant till 2025. As per the World Health Organization estimates, 325 million people worldwide live with hepatitis B and C. However, the growing prevalence of other diseases like cancer and multiple sclerosis is projected to bring some positive attributes to market growth. Ongoing research on the effective vaccine is foreseen to create growth opportunities.
Analysis, By Region
In the regional outlook of the global interferon market, North America dominates the market in the forecast period, followed by Europe and Asia-Pacific. North America led the market with over 33% share in 2019. The United States is a prime revenue generator in the global interferon market due to advanced treatment procedures. Asia Pacific is anticipated to show the highest CAGR during the forecast period. The expanding aging population, growing awareness about interferon therapy, and government initiatives to increase health care expenditure is forecasted to swell demand across the region.
Market Segmentation covered in the Report:
By Disease Treatment
- Multiple Sclerosis
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
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